A microfinance institute will screen its salesforce for background verification after numerous rural customer complaints about mis-selling. The microfinance industry, employing 80,000–85,000 people, previously overlooked background verification as a crucial factor in recruitment.
Finding a aspirational job with the employer of your choice should be made easy. Similarly, finding the top talent should be quick and secure. However, in reality it is demanding , expensive and time consuming.
Pre-verifying a candidate’s resume through educational institutes, accreditors, and former employers benefits both candidates and employers significantly.
Various industries are embracing background verification, and Reuters reports the industry will reach a $4 billion mark by 2022.
Quinfy leverages blockchain for its platform due to its security and distributed ledger, showcasing immense potential for technological advancements. Technology ensures fast turnaround, data security, and accuracy, crucial for hiring the right talent amid increasing competition in the job market.
The concept just-in-time talent is very popular with all fast growing organizations. When we talk about just in time talent we must have their complete background verification done with lightning speed, so that the talent can be on on-boarded on time. This is where the technology will come into focus. With more candidates and clients getting onboarding on the platform the maturity of data will increase.
Quinfy is going to provide a very interesting concept known as ‘continuous background verification’ wherein once the candidate is registered in the platform, his/her entire career path can be tracked and stored on the platform itself, so whenever there is a transaction in the job only thing is required is a finance check, civil check and the latest employment. This is going to have a ripple effect on the organizations employee experience score. Let me explain this in detail, the employee will give a correct feedback about the reasons for exit since they know that now the reasons are saved on the platform and no tampering is possible, so they will voice their true opinion which can be used to improve the workplace in-turn the employee experience.
It has been a practice that the background verification is the responsibility of an employer. Quinfy is trying to change this concept and ensure that the employee becomes responsible for the background verification as he/she is responsible for their career.
Organizations conduct various background verifications today, with education, employment, and criminal checks being the most common. Some organizations also go for financial checks, social checks as well as drug test. Candidates now share their information and request background verification companies to conduct checks, addressing the concern of personal information privacy.
Quinfy will be one such global platform wherein you will be able to pick and choose the kind of background verification you want for your employees The Suite is going to be of essence and security of Paramount importance. This is a sincere attempt to bring the employer, the candidate and the background verification Agencies together.
We are leveraging the technology to provide Global clients with the best of background verification solutions and providing them a service that will help then in retaining the right candidate and mitigating the risk that might arise due to the wrong talent hired.